Markets

London fund takes short bet against Glanbia worth €23m

Mirabella has taken position against nutrition giant, which last month reported a 20 per cent jump in profits

Hugh McGuire, Glanbia chief executive: company reported a 20 per cent jump in profits in 2023. Picture: Naoise Culhane

A British investment fund has taken a substantial short bet against Glanbia, the performance nutrition giant, new records show.

Filings with the Central Bank of Ireland show that Mirabella, a London-based fund, is shorting 0.51 per cent of the company’s shares.

At Glanbia’s current share price of more than €17, the bet is valued at about €23 million.

A short trade is a transaction in which traders borrow shares from a broker and sell them ...